--%>
Assignment Help - homework help

costs for a firm

Question:

 (a)       Complete the following table of costs for a firm.  (Note: enter the figures in the MC  column between outputs of  0 and 1, 1 and 2, 2 and 3, etc.) 

Output (Units)

TC  ($)

AC  ($)

MC  ($)

0

55

-



30

1

85

85



25

2

110

55



20

3

130

43.3333333



30

4

160

40



50

5

210

42



70

6

280

46.6666667



90

7

370

52.8571429



110

8

480

60



130

9

610




150

10

760

76

(b)    How much is total fixed cost at:

            (i)         an output of 0 units ?

            (ii)        an output of 6 units?

(c)    How much is average fixed cost at:

            (i)         an output of 5 units?    

            (ii)        an output of 10 units?  

(d)   How much is total variable cost at an output of 5 units?

(e)   How much is average variable cost at an output of 10 units?

Answer:

(b)

i)    55

ii)   55

(c)

(i) 55/5 = 11

(ii) 55/10 = 5.5

d) 210 - 55 = 155

e) 76- 5.5 = 20.5

   Related Questions in Business Economics

  • Q : Symptoms of governmental interference-

    Adam Smith and the “typical liberal” economists who followed within his footsteps viewed persistent monopolization and market power as: (1) ineffective and best regulated through government. (2) crucial in finding the rate of technological

    		•
  • Q : Public Sector Government Role

    Illustrate the Public Sector Government’s Role of providing the legal structure?

    		•
  • Q : Production possibility frontier

    Question: Scenario: You have been hired as the economics adviser for the newly elected State Premier. On your first day, the Premier introduces you to the new Minister for Health

    		•
  • Q : What do you mean by Linkages What do

    What do you mean by Linkages?

    		•
  • Q : Freely Floating Currency Question: For

    Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________

    		•
  • Q : Rightward shift of PPC What was

    What was rightward shift of PPC point out? Answer: It points out growth of the resources.

    		•
  • Q : New firms entry in industry What

    What persuades new firms to enter in an industry? Answer: Abnormal profit encourages new firms to enter an industry. 

    		•
  • Q : Budget line and indifference curves

    Question: Monica has been considering buying a mountain bike. Last month Monica had an income of $30,000. The bike's price was $1000, the composite good price was $1, and she decided not to buy the bike.  This month Monica was surprised t

    		•
  • Q : Elucidate types of unemployment

    Elucidate types of unemployment?

    		•
  • Q : Problem on Legislature budget XY School

    XY School District has a large number of students in need of remedial instruction. The superintendent of XY School System can allocated her budget between purchasing X units of remedial instruction at a price of $2,000/unit and spending an amount ($Y) on all other sch

    		•